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Saudi Ground Services Company announces the approval of the Board of Directors to establish 100% owned limited liability subsidiary company
| Element List | Explanation |
|---|---|
| Announcement Detail | Saudi Ground Services Company announces the approval of the Board of Directors on 15/11/1445H corresponding to 23/05/2024 to establish a 100% owned new subsidiary as a limited liability company in the Kingdom of Saudi Arabia under the name "Ground Service Company for Travel and Tourism Services." The subsidiary will have a share capital of five hundred thousand (500,000) Saudi Riyals. This decision follows the fulfillment of the requirements set by the relevant authorities and regulations for conducting the activities outlined below, in accordance with the National Economic Activities Classification Guide, after obtaining the necessary approvals from the competent authorities: - Travel agency activities. - Activities related to air transport services. This step is in line with the strategic direction of Saudi Ground Services Company, aiming for growth, business development, and diversification of its revenues. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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